Year in review
Annual Report 2018
For the second year in a row, Danfoss has seen strong growth and increased investments in the future.
Watch President & CEO Kim Fausing talk about Danfoss’ robust results for 2018.
In 2018, Danfoss delivered strong growth of 7% in local currency. The growth was strong in the major markets of North America, Europe and China and led to robust financial results. The momentum was broadly based across Danfoss, and Danfoss Power Solutions, in particular, delivered a very strong year. During the year, Danfoss announced six acquisitions, which will contribute to strengthening the company’s core businesses, digital offerings and solutions for electrification.
Explore more about Danfoss and our business
We are building a better future and talents are playing a vital part. Our global Postgraduate Program opens great opportunities to develop a career, for example, by working across functions and borders, exploring different cultures, and being part of the Danfoss family.
The digital journey has started... the one where robots and data become a larger part of our daily lives. In 2018, we have made a crucial step forward in the digital development of our innovation and factories, where 3D printing, robots and increased use of data allow us to deliver even better quality to our customers – faster and more flexible.
The E-ferry Ellen
The groundbreaking E-Ferry will soon be launched in Denmark with the help of Danfoss. The fully electric-powered ferry will have the largest battery capacity at sea for this type of vessel and will operate without CO2 emissions. Ellen is one of the world's most powerful electric ferries and will be deployed between the Danish islands of Ærø and Als, the latter being the location of the Danfoss headquarters in Denmark.
Application software for cranes
Danfoss is active in the crane business. We offer a flexible and broad mix of products that are easy to install and simple to commission. The Danfoss crane application software package takes advantage of the latest innovations in digitalization, which allows our customers to increase productivity by working smarter, minimize downtime by using connected intelligent products, and prevent failures by acting in time.
Driven by urban growth, the need for construction and refurbishment of residential and commercial buildings is projected to be massive. The radiator thermostat Danfoss Eco™ improves comfort and indoor climate, while reducing the energy bill. Since 1943, Danfoss has manufactured around 350 million radiator thermostats, thereby reducing 650 million tons of CO2. In 2018, Danfoss Eco™ was recognized with three prestigious design awards: a Ret Dot, a Danish Design Award, and a German Design Award.
It is Scandinavia's largest urban development project. Over the next 50 years, Copenhagen's Nordhavn in Denmark will become a district of 40,000 residents and 40,000 workplaces. The old free port has always set its sights on new horizons. And today, Nordhavn is where the future of energy solutions will happen, and our heating and cooling technologies will set the direction, leading to high energy efficiency and reduced carbon footprint.
Supplementary reports 2018:
“Sustainability is important for our people, our planet and our financial performance. In Danfoss, we play a significant role in promoting energy efficiency and enabling electrification in the transition towards a world with lower carbon emissions. Our products and solutions help the world to grow in a sustainable way, and we take our own medicine optimizing our own production and services. It is not just good business – its common sense,” says Kim Fausing, President and CEO.